GMR Infrastructure Ltd plans to monetize few old road projects and focus more on big highway projects this fiscal.
Mr Arun Kumar Sharma, CEO, GMR Highways, said “Going forward, we are planning to explore big highway projects as yield is better. We are looking at monetizing few old road projects to fund our expansion.”
“ We are evaluating them and we are not in hurry to do it,” he added.
The company's highways business portfolio consists of six operating assets (three toll and three annuity) with total of 1,684 lane km , three projects (two toll and one annuity) under construction with a total of 1,294 lane km and another toll project of 3,330 lane km under development for which financial closure was achieved on May 24.
New projects
The company has won a bid for six laning of 555.5-km Kishangarh-Ahmedabad highway project. The project achieved financial closure on May 24.
The operating annuity projects continue to register healthy revenue and profit.
Ambala Chandigarh – Traffic growth of 6 per cent for the quarter and 5 per cent for the year. Revenue growth is 19 per cent for the quarter and 13 per cent for the year.
Jadcherla - Traffic growth is 5 per cent for the quarter and for the year. Revenue growth is 14 per cent for the quarter and for the year.
Ulundurpet - Traffic growth is (-3 per cent) for quarter and 2 per cent for the year. Revenue growth is 6 per cent for the quarter and for the year. The muted growth for the year is on account of temporary suspension of sand transport.